Glucose Syrup Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

In the year 2023, the world market for sugar will reach $ 5.2 billion, and the market is expected to continue to grow at this rate through to the year 2030. The CAGR of 5.45 per cent from 2022 to 2030 reflects the stability of the market, which is supported by a variety of factors. The trend of growth is mainly driven by the steady consumption of sugar in the food and beverage industry, where the use of sugar is mainly for its sweetening properties and its functionality in food and beverage applications. The market for glucose syrup is driven by several technological developments and trends in the consumer market. The growing demand for natural sweeteners and the growing trend towards healthier food are pushing the manufacturers to develop new products and diversify their product range. Strategic initiatives by leading companies in the industry, such as ADM, Cargill and Tate & Lyle, are an indication of this trend. These efforts are aimed at improving the quality of the product and expanding the market, thus strengthening the positions of the companies in the competition in the market for glucose syrup.

Regional Market Size

Regional Deep Dive

Glucose syrup market is experiencing a high growth in various regions. Glucose syrup is increasingly used in the food and beverage industry and in the pharmaceutical and cosmetic industries. Glucose syrup market is characterized by its own characteristics, depending on the local preferences, legal framework and economic conditions. The market is characterized by a trend towards healthier alternatives, innovation in production processes and a growing concern for the environment. This has changed the competitive environment and led to the development of new technologies.

Europe

• In Europe, the organic trend is a major influence on the sugar industry. In this respect, companies like Roquette Frères and Tereos are changing their range of products, adding organic sugar to meet the needs of health-conscious consumers.
• The European Union's stringent regulations on food additives and labeling are prompting manufacturers to innovate and ensure compliance, which is expected to enhance product quality and transparency in the market.

Asia Pacific

• The increasing consumption of emulsified and liquid foodstuffs is mainly due to the change in dietary habits and the growing demand for processed foodstuffs. To meet this demand, the China National Cereals, Oils and Foodstuffs Corp. (COFCO) has been increasing its production capacity.
• Government initiatives in countries like India to promote the food processing industry are expected to create new opportunities for glucose syrup manufacturers, as they seek to capitalize on the rising trend of convenience foods.

Latin America

• The use of sugar in the manufacture of alcoholic beverages is undergoing a rapid development in the United States, particularly in Brazil, where the sugar-cane industry is so vigorous. The companies of the J.M. Group and the Cosan Group are taking advantage of this to increase the range of their products.
• Economic factors, such as fluctuations in sugar prices, are prompting manufacturers to explore glucose syrup as a cost-effective alternative, which is expected to drive market growth in the region.

North America

• The North American market is experiencing a strong demand for glucos syrup. The growing trend towards clean labeling is resulting in innovations in the production of glucos syrup, resulting in improved quality and purity. ADM and Cargill are investing in new production processes to meet this demand.
• Regulatory changes, particularly in the U.S. regarding labeling and health claims, are pushing manufacturers to reformulate products, which is expected to drive the growth of glucose syrup as a versatile ingredient in various food products.

Middle East And Africa

• The Glucose Syrup Market in the Middle East and Africa is mainly influenced by the growing food and beverage industry, especially in South Africa and the United Arab Emirates. Local companies are increasingly collaborating with international companies to improve their product offerings.
• Cultural preferences for traditional sweets and desserts are influencing the types of glucose syrups being produced, with manufacturers focusing on local flavors and formulations to cater to regional tastes.

Did You Know?

“Did you know that glucose syrup is not only used as a sweetener but also acts as a humectant, helping to retain moisture in food products, which is crucial for maintaining freshness?” — Food Science and Technology Journal

Segmental Market Size

The Glucose Syrup Market is currently booming due to its essential use in the food and beverage industries as a sweetener and thickener. The key growth drivers are the increasing consumer demand for natural sweeteners and the rising use of glucose syrup in processed foods, particularly confectionery and bakery products. In addition, the government regulations to reduce the use of artificial sweeteners are expected to further drive the market for natural sweeteners. Glucose syrup is already widely used, and the major manufacturers are Cargill and Archer Daniels Midland. The major applications of glucose syrup include food and beverages, pharmaceuticals and cosmetics. The major end users are cola, candy and sauce. The trends of clean label and green economy are expected to boost the growth of the market. Also, the development of enzymatic processing technology is expected to lead to more efficient production methods and higher-quality products.

Future Outlook

The Glucose Syrup Market is expected to reach USD 58.7 billion by 2023, with a CAGR of 5.45%. The market size is expected to remain stable at around USD 5.2 billion, with the demand from the food and beverage industry, especially in the production of confectionery, bakery products, and soft drinks. The consumption of natural and organic food is increasing, and the versatility and functionality of glucose syrup are becoming more and more important in the sweetening and thickening of various foods. Also, the development of enzymatic production processes is expected to increase the efficiency of production and reduce the cost of production. Also, the policy of promoting non-GMO and organic products is expected to promote the growth of the market. Also, the popularity of low-calorie sweeteners and the development of vegetarian diets will also drive the market. In the future, as manufacturers continue to adapt to these trends, the use of glucose syrup in health-conscious segments is expected to increase, thereby establishing the position of glucose syrup as a versatile and indispensable ingredient in food.